witnessed Gold prices today At the conclusion of the week’s trading, a drop by about 7 pounds, with the continued decline in the price of gold for the second week in a row, and the gram of 21 karat gold decreased from 1015 to 1008 pounds during today’s trading, with the global price of gold recording $ 1851 at the end of the trading sessions this week.
Gold price today in Egypt
18 caliber recorded 864 pounds
21 caliber recorded 1008 pounds
24 carat recorded 1152 pounds
The gold pound is 8064 pounds
gold prices It fell this week, pressured by the strong dollar, as better-than-expected US jobs data raised fears of monetary tightening.
And spot gold fell 1% to $ 1848.67 an ounce, after falling earlier to $ 1846.4. And US gold futures fell 1.1% to $ 1850.2.
Data showed that US employers hired more workers than expected in May and maintained a fairly strong pace of wage increases, signs of a strong labor market.
Higher interest rates in the United States increase the opportunity cost of holding gold, which carries no interest, while boosting the dollar in which bullion is priced.
Cleveland Fed President Loretta Meester said Friday that she is looking for “convincing” evidence that inflation has peaked, and if it does not, the Fed’s September meeting could see a 50bp rate hike as well.
The dollar rose 0.3%, while US 10-year bond yields approached a two-week high touched earlier in the session.